As the global pandemic of COVID-19 quickly spreads, it is impacting everyone around the globe. The government of Mauritius has followed the global trend and decided to proceed with the lock down of the country. As the situation continues to develop at an increased pace, we wanted to reach out and update you on how we’re supporting our employees and you — our customers and partners - in these difficult times.

Coronavirus and its related impacts dominated the news this week, with over 685,000 infections and more than 32,000 deaths across the world. On a country-basis, the United States has more Coronavirus cases, more the number reported in China, while the global epicentre has shifted to Europe.

UK Prime Minister Boris Johnson also tested positive for the coronavirus. The major averages (Dow Jones, the S&P 500 and the Nasdaq) posted their strong week-gains in years, but still closed more than 20% lower than record highs last month.

On the commodities side, oil price plunged further due to drops in global demand while Gold had a price rally driven by predicted gold shortage and moves by the U.S. Federal Reserve to purchase an unlimited number of treasuries and securities.

Governments across the world put in measures to cushion the economic impact of the coronavirus, with the U.S. leading the way with a $2 trillion-dollar emergency relief.